Intellectual Capital Management and ESG in SMEs: An Exploratory Analysis

Abstract

With the speedy development of the business environment, companies are forced to adapt their strategies, in order to stand out in the market and become more competitive. This has generated a great focus on their intangible assets, which play a fundamental role in strategic value creation and competitiveness. In this sense, Intellectual Capital, as a set of resources based on knowledge, methodologies and relationships, as well as Environmental, Social and Governance (ESG) practices, are recognized as strategic factors for increasing the competitiveness of organizations. In this context, the main objective of this study is to analyse the association between Intellectual Capital management and ESG indicators at the organizational level. To draw conclusions about this premise, a mixed methodology (qualitative and quantitative) was adopted, based on the application of a structured questionnaire aimed at employees in management positions in small and medium enterprises (SMEs) belonging the PME Inovação COTEC - Associação Empresarial para a Inovação network, to obtain a clear view of their perception of Intellectual Capital and ESG strategies in their firms. From this universe, 20 responses were obtained, which were then analysed using the MAXQDA and IBM SPSS Statistics. It was concluded that there is a positive correlation between these indicators. However, due to the limited number of respondents, it was not possible to reach a statistically significant conclusion regarding the association between Intellectual Capital and ESG indicators. Despite this, the present research contributes to the literature on both topics by empirically exploring the articulation between two organizational components that are deeply relevant to current business, paving the way for future studies.